Question 1

Which of the following is the BEST example of a customer-oriented mission statement?

Accepted Answer

Option B focuses on solving a problem or fulfilling a need for the customer, which is a key aspect of a customer-oriented mission statement. It emphasizes the benefit to the customer rather than just describing the service.

Question 2

Which of the following is the BEST example of a product-oriented mission statement?

Accepted Answer

A product-oriented mission statement focuses on what the company produces or does rather than on the benefits or experiences offered to the customers. Option C, "We make automobiles," directly states the product being made, fitting the criteria for a product-oriented mission statement.

Question 3

Darby received e-mail from her supervisor this morning. The message told her that her department was "to decrease order-fulfillment errors by 3 percent during the next 6 months." Her e-mail message was most likely a(n):

Accepted Answer

The email message outlines a specific, measurable goal for the department, which aligns with the definition of an organizational objective.

Question 4

To be worthwhile and workable, objectives should:

Accepted Answer

Objectives should be consistent with each other to ensure that efforts across different areas of the organization are aligned and working towards the same overall goals. This consistency helps in avoiding conflicts and inefficiencies.

Question 5

To be worthwhile and workable, objectives should be:

Accepted Answer

Objectives should be consistent to avoid conflicts, ambitious yet realistic to motivate progress, quantitatively measured for clear assessment, and stated in writing for clarity and accountability.

Question 6

Which of the following objectives is most acceptable according to the attributes listed in the textbook?

Accepted Answer

The most acceptable objective according to textbook attributes is typically specific, measurable, achievable, relevant, and time-bound (SMART). Option B clearly states a specific goal (reduce sales force costs), is measurable (to 15 percent of net sales), achievable (assuming the context allows for cost reduction), relevant to business financial health, and time-bound (during the next 18 months).

Question 7

In business, a _____ is a broad plan of action by which an organization intends to reach its objectives.

Accepted Answer

A strategy is a comprehensive plan that outlines how an organization will achieve its objectives, making it the correct answer.

Question 8

A large laundry has developed a broad plan of action to deal with Environmental Protection Agency (EPA) requirements for wastewater discharge. Because this plan will help the laundry reach its objective related to reducing expenditures and attracting customers, it is an example of a:

Accepted Answer

A strategy is a broad plan of action designed to achieve long-term or overall aims. In this case, the laundry's plan to meet EPA requirements while also reducing expenditures and attracting customers aligns with the definition of a strategy, as it outlines a comprehensive approach to achieve these broader objectives.

Question 9

A large laundry wants to find a method to cut the costs of dealing with Environmental Protection Agency (EPA) requirements for wastewater discharge. One specific _____ is to purchase a Norchem Ultrapure System for chemical-free wastewater treatment, which meets the most stringent of EPA regulations while saving the company at least $25,000 annually.

Accepted Answer

The answer of A large laundry wants to find a...

Question 10

If one of the organizational objectives for a manufacturer of lawn furniture is to increase market share from 8 percent to 11 percent during the next year, which of the following would describe an appropriate strategy for the company to implement?

Accepted Answer

Intensifying marketing efforts in domestic markets directly targets increasing market share by reaching more potential customers and increasing sales within the existing market.

Question 11

A tactic:

Accepted Answer

Tactics must align with and support the overarching strategy to be effective. They are the specific actions or steps taken to achieve the strategic goals. This alignment ensures that all efforts contribute towards the common objectives set by the strategy.

Question 12

If the strategy for the State of Florida Department of Citrus is to encourage people to cook with orange juice, which of the following would be the most effective tactic to support this strategy?

Accepted Answer

Sponsoring a national contest for the best recipes using orange juice directly encourages people to cook with orange juice, aligning with the strategy to promote its culinary use.

Question 13

The strategy for a manufacturer of food concession trailers used by companies that provide the rides and entertainment at regional, state, and county fairs is to expand its distribution area to include purveyors of food at flea markets. A possible tactic it could use to implement this strategy would be to:

Accepted Answer

A direct tactic to implement the strategy of expanding distribution to include flea market purveyors involves targeting potential customers directly, which mailing product brochures to sellers at large flea markets accomplishes.

Question 14

Strategic planning:

Accepted Answer

Strategic planning typically covers a long-term period, often three to five years or more, involves top-level management (although it should also engage middle and lower levels for comprehensive insights), focuses on the overall direction and goals of the organization (not just the marketing mix and target markets), and often benefits from the involvement of a planning staff or team to facilitate the process.

Question 15

The first step in strategic company planning is to:

Accepted Answer

The first step in strategic company planning is to define the organizational mission, which outlines the company's purpose, values, and core goals, providing a foundation for all subsequent planning activities.

Question 16

The owner of Royal Collectibles has defined the retail store's mission and has analyzed the store's competition and its customers. He has set an objective of increasing sales by 3 percent during the next 12 months. In terms of strategic company planning, what is the retailer's next step?

Accepted Answer

Selecting strategies to achieve the set objective is the next logical step after setting an objective, as it involves planning how to reach the goal.

Question 17

Which of the following statements about organizational strategies is True?

Accepted Answer

Organizational strategies are indeed broad plans of action that help an organization achieve its goals and fulfill its mission.

Question 18

A strategic marketing plan involves doing all of the following EXCEPT:

Accepted Answer

Organizing the staff is more related to operational or tactical planning rather than strategic marketing planning. Strategic marketing planning focuses on broader aspects such as situation analysis, marketing mix design, setting objectives, and selecting target markets.

Question 19

According to the text, the first of the five steps in strategic marketing planning is to:

Accepted Answer

The first step in strategic marketing planning is to conduct a situation analysis. This involves evaluating the internal and external environment affecting the organization to understand its capabilities, customers, and business environment.

Question 20

A(n) _____ involves an analysis of where the company's marketing program has been, how it has been doing, and what it is likely to face in years ahead.

Accepted Answer

A situation analysis involves reviewing the past performance of a company's marketing program, understanding its current status, and anticipating future challenges and opportunities. It provides a comprehensive overview of the internal and external factors that can affect the company's marketing strategy.

Quiz 20: Strategic Marketing Planning